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How to Spot Fake Gold Coins

June 18, 2014 – A My Fox New York article published yesterday reported that two Chinese nationals living in New York have been arrested for allegedly selling fake gold coins, and police believe the pair may have swindled up to one dozen investors. The article reminded me that despite the vast resources available to investors, many are brand new to the gold coin market and may not fully comprehend how large the problem of counterfeit gold coins has grown over the last decade.

Sites like GoldCoin.net, BBB.org and RipoffReport.com have made it easier for consumers to buy real gold coins at reasonable prices, and we give a voice to those who have been scammed. Ideally, though, we’d like to pass our knowledge of gold coins on to you, and this includes knowing how to spot fake gold coins.

-First of all, the devil is in the details. Examine dates, mint marks and other devices closely. If possible, compare the questionable gold coin to a gold coin of the same type that is known to be genuine.

-Do NOT bite the coin to check the metal’s malleability. Even if the coin is real gold you could still cause some serious damage to your teeth.

-Coin shops often sell acid test kits, but many investors are wary of applying acid to their portfolio’s insurance plan, so as an alternative you may wish to consult a professional numismatist.

Reputable gold coin dealers like GoldCoin.net have a verified system of checks and balances to ensure clients never take delivery of counterfeit gold coins. Additionally, it may be beneficial to invest in PCGS and/or NGC-certified gold coins because those two organizations have over 50 years combined experience in examining, authenticating and grading gold coins. For a comprehensive gold coin market report which includes 8 ways to spot a fake gold coin call GoldCoin.net today at 800-425-5672 or scroll to the bottom of this page to request your free gold coin investing guides.

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